(RTTNews) – Indian shares ended slightly lower on Tuesday, with benchmark indexes Sensex and Nifty snapping a four-day winning streak, as Middle East tensons resurfaced, pushing oil and bond yields higher.
The dollar strengthened and Brent crude prices rose nearly 2 percent after two commercial vessels were reportedly struck by Iranian missiles while transiting the Strait of Hormuz late Monday, renewing concerns among shipowners and raising questions over the durability of the U.S.-Iran peace agreement.
A fresh wave of technology selling in other Asian markets, including South Korea and Japan, also kept investors on edge.
As rising capital expenditures and competition become synonymous with rising semiconductor demand, doubts are mounting over whether future earnings growth can keep pace with current valuations of artificial intelligence-related and other chip companies.
The benchmark BSE Sensex gave up early gains to end down 104.35 points, or 0.13 percent, at 78,180.72, snapping a four-day winning streak.
The NSE Nifty index settled 31.65 points, or 0.13 percent, lower at 24,398.70 while the BSE mid-cap and small-cap indexes dropped 0.2 percent and 0.8 percent, respectively.
The market breadth was weak on the BSE, with 2,631 shares declining while 1,601 shares rose and 165 shares closed unchanged.
Among the prominent decliners, fashion retailer Trent slumped 12.4 percent after Q1 FY27 revenue growth of 19 percent came in below market expectations.
ICICI Bank, Reliance Industries, Larsen & Toubro, BEL and Adani Ports ended down between 0.8 percent and 1.6 percent.
IT stocks bucked the weak trend, with Infosys, Tech Mahindra and HCL Technologies all rising around 3 percent.
